Bullfrog Gold Closes $1.1 Million Equity Financing
- March 26, 2019
- Posted by: Ty Minnick
- Category: Press Releases
Grand Junction, Colorado, March 26, 2019 – Bullfrog Gold Corp (BFGC:OTCQB) (“Bullfrog”, “BFGC” or the “Company”) is pleased to announce the final closing of a non-brokered US $1,127,400 private placement of equity. The subscriptions were priced at $0.05 per unit, which consisted of one share of the Company’s common stock and a two-year warrant to purchase a one-half share at a price of $0.10 per share. The initial closing of $835,000 was announced on February 11, 2019.
Proceeds will be used to pursue a listing on a Canadian stock exchange; securing Nevada and Federal exploration permits; metallurgical testing; exploration programs and developing greater exposure of the Company and its Bullfrog Project to Canadian and European markets. The Bullfrog Project is located 125 miles NW of Las Vegas, Nevada and consists of 5,250 acres of patented and unpatented mining claims that have an established mineral estimate; plus strong exploration potential in one of the hottest gold exploration areas in the US. More information may be sourced at www.bullfroggold.com, including a presentation that shows all major land holdings in the Bullfrog and surrounding mining districts.
A 9-minute video completed in Toronto on March 3, 2019 by the President and CEO of BFGC may be viewed at the following link: https://youtu.be/4aZomuuWzK8
About Bullfrog Gold Corp.
Bullfrog Gold Corp. is a Delaware corporation that controls the commanding land and mineral positions in the Bullfrog Mine area where Barrick Bullfrog Inc. produced 2.3 million ounces of gold by conventional milling from 1989 into early 1999. An independent 43-101 compliant report prepared in August 2017 estimated mineralization at 624,000 ounces at 0.7 g/tonne gold within expanded pit plans based on a gold price of $1,200 and heap leaching. The Company has thoroughly analyzed a large data base obtained from Barrick, including detailed information on 155 miles of drilling in the Bullfrog Mine area.
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain “Forward-Looking Statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein including those with respect to the objectives, plans and strategies of the Company and those preceded by or that include the words “believes,” “expects,” “given,” “targets,” “intends,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, are forward-looking statements that involve various risks and uncertainties. We use certain terms in this valuation such as “mineralization” and “mineral inventory estimates” that are not defined in Canadian National Instrument 43-101; or recognized under the U.S. SEC Industry Guide 7. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures and may not result in the discovery of sufficient mineral deposits that can be mined profitably. Furthermore, the Company currently has no resources or reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Additional information regarding important factors that could cause actual results to differ materially from the Company’s expectations is disclosed in the Company’s documents filed from time to time with the United States Securities & Exchange Commission.
Contact Information: David Beling, PE, President, CEO and Director, (970) 628-1670